By Kayode Brown | April 7, 2022 –
Carmigo Founder and CEO Andrew Warmath got the idea for starting his Tupelo-based company during the COVID-19 pandemic, when demand for used cars increased because of the virus’ impact on the economy and, especially, on vehicle manufacturing, with factories shutting down.
His business allows owners to sell their used cars to the highest bidder among various auto dealerships. “Right when the pandemic first started, everything just shut down,” he said in a March 15, 2022, Zoom interview. “Most (auto) retail (outlets) were shut down overnight, but a few weeks later, the faucet turned back on, and traditional supply for cars was shut off while demand exploded.”
“So dealerships were looking all over for different sources of inventory, and we were having trouble finding it,” he added. Barnes Crossing Auto Group, the company for which he worked the time as chief financial officer, experienced the same need.
Now with about 30 employees, most of them in Mississippi, a big part of Warmath’s focus is offering employment in the Magnolia State to combat brain drain, he says.